EEPC for $300 bn business in Africa

KOLKATA: The Engineering Export Promotion Council (EEPC) is expecting to generate business between $250 and 300 billion over the next two-three years by making South Africa a hub of that region.

"After the first engineering exhibition in Johannesburg, we expect to generate business worth $300 billion in the next two to three years if we make South Africa as hub to serve the African countries of that region," EEPC chairman Rakesh Shah said after returning from South Africa.

"During the exposition, nearly $2.41 million worth of orders have been booked," he said.

Shah said that the market of the 14 nations of South African Development Community countries remained untapped but those could only be served making South Africa as distribution centre.

He also said that the shipping line which was expected to be formed between India, South Africa and Brazil with the help of the respective governments will give a major boost as current freight costs were extremely high and had made Indian goods uncompetitive.

"Currently, a lot of Indian goods are making their way to South Africa through European and French companies. Thus, the exhibition was an eye opener for them to get quality products at a much cheaper price," Shah said.

Providing details of current trade of engineering goods to South Africa, he said exports rose by 45.18 per cent to $736 million and expressed confidence of higher growth rate in exports post exhibition, which was attended by 175 Indian companies.